The Formation Of The New Development Bank Is The BRICS Alliance Most Recent Achievement

The BRICS nations, Brazil, Russia, India, China and South Africa, played an important role in the global economy for the last eight years. Those five countries have been at the forefront of the global manufacturing and supply initiative. But doing business with countries around the world is still a challenge, especially when it comes to getting paid. The International Monetary Fund (IMF) and the World Bank don’t work very well for the BRICS nations because of the outdated distribution of power in those organizations. The five countries want to be proactive and implement their own proposals. They want equal voting and shareholding rights for all the BRICS countries, so the New Development Bank was formed to give the group more control over finances. But the cooperation between the five countries has also expanded to cover other issues like trade, science, health, education, defense, and technology.

Brazilian business leaders like the CEO of Eucatex, Flavio Maluf, are encouraged by the progress that the BRICS alliance has made during the last two years. All of the members of the alliance have been in recession mode, except India for the last 24 months, but there are signs of a recovery, according to Maluf. Maluf’s family owned business, Eucatex, has been one of the Brazilian companies that has weathered the economic storm better than most companies. Maluf put an eco-friendly plan in place when he was named president of the company in 1997, and that plan has been successful.

Flavio Maluf decided to make Eucatex a leader in the eco-friendly space in Brazil. In 1997, there were very few corporations that recycled or used renewable energy in their factories and offices. But Maluf wanted to be one of the first companies to get away from fossil fuels. Today, all Eucatex factories use renewable energy, and all Eucatex offices recycle, reuse, and reduce, and that has saved the company millions of dollars.

Thanks to Maluf’s vision, Eucatex is one of the top building supply companies in the world. Eucatex products and brands are sold on every continent. And, in Brazil, Eucatex is one of the leaders in the clean air initiative that was signed by President Temer at the UN recently.